SMCI Options History — July 2025

In July 2025, SMCI traded between $47.38 and $60.53. ATM implied volatility averaged 75.1%, placing in the 8.0% IV rank vs the trailing year. The 30-day expected move averaged 22.4%. IV traded above realized volatility by 17.2% (HV 20d: 58.0%). Max pain ranged from $40.00 to $45.00. Net GEX was positive for 22 of 22 trading days. Term structure was in contango for 8 of 22 days. Put/call ratio averaged 0.36.

Notable Days

2025-07-28: Highest Volume — 829,389 contracts
2025-07-07: Largest IV spike — 11.4% change
2025-07-31: Highest IV Rank — 12.7%
2025-07-31: Largest Expected Move — 26.8%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$52.20	$47.38	$60.53	$47.44	$58.92
Max Pain	$42.11	$40.00	$45.00	$43.00	$45.00
ATM IV	75.1%	67.8%	82.3%	69.2%	82.3%
Expected Move	22.4%	18.7%	26.8%	19.0%	26.8%
HV 20d	58.0%	44.7%	64.7%	64.7%	54.3%
HV 60d	75.5%	67.0%	88.0%	88.0%	67.0%
IV Rank	8.0%	3.1%	12.7%	4.1%	12.7%
IV Percentile	23.7%	9.5%	38.5%	12.7%	38.5%
Term Structure	0.2%	-3.7%	10.7%	8.3%	-3.5%
VWIV	80.9%	68.4%	96.5%	68.4%	96.5%
Skew 25d	-3.4%	-9.3%	0.9%	-1.6%	-1.7%
Skew 10d	-4.8%	-9.0%	8.4%	-3.1%	-4.5%
Call IV 25d	78.9%	70.4%	88.3%	72.5%	87.5%
Put IV 25d	75.4%	62.8%	85.8%	70.9%	85.8%
Bid-Ask Spread %	7.49	4.41	20.02	7.26	8.68
Gamma HHI	0.10	0.06	0.16	0.08	0.10
Net GEX	64.0M	27.6M	95.0M	40.2M	84.6M
Net DEX	-2.69B	-4.36B	-1.78B	-1.88B	-3.75B
Net VEX	-16.3M	-18.2M	-15.4M	-15.7M	-18.1M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.36	0.24	0.57	0.37	0.37
Total Volume	344,428.864	155,174	829,389	268,196	311,954
Total OI	2,331,583.136	2,153,137	2,574,370	2,214,088	2,574,370

Daily Data (22 trading days)

Date	Price	Max Pain	ATM IV	Exp Move	HV 20d	IV Rank	VWIV	Skew 25d	Term Str	GEX	DEX	VEX	P/C	Spread %	Call Vol	Put Vol	Call OI	Put OI
2025-07-01	$47.44	$43.00	69.2%	19.0%	64.7%	4.1%	68.4%	-1.6%	8.3%	40.2M	-1.88B	-15.7M	0.37	7.26	195,108	73,088	1,337,675	876,413
2025-07-02	$48.44	$43.50	69.0%	18.7%	63.3%	4.0%	68.5%	-3.0%	10.7%	53.2M	-2.14B	-16.0M	0.24	5.33	244,437	58,443	1,355,352	894,551
2025-07-03	$48.64	$40.00	67.8%	21.9%	63.0%	3.1%	78.2%	-7.6%	8.5%	55.6M	-2.22B	-15.9M	0.35	20.02	186,283	65,660	1,384,598	907,147
2025-07-07	$47.38	$40.00	75.5%	22.5%	59.5%	8.2%	80.4%	-2.6%	1.3%	42.8M	-1.88B	-15.4M	0.49	5.96	135,342	66,485	1,308,299	844,838
2025-07-08	$49.00	$40.00	75.3%	22.2%	60.2%	8.1%	78.8%	0.9%	1.4%	59.0M	-2.26B	-15.8M	0.35	4.87	114,855	40,319	1,353,516	883,094
2025-07-09	$49.88	$40.00	75.5%	22.0%	59.8%	8.2%	77.8%	-9.3%	0.3%	74.7M	-2.50B	-15.8M	0.45	5.71	160,369	72,826	1,380,211	893,594
2025-07-10	$50.30	$41.00	74.6%	21.6%	59.7%	7.7%	78.9%	-1.5%	0.9%	92.5M	-2.60B	-16.0M	0.38	6.03	194,516	73,196	1,404,354	924,167
2025-07-11	$49.47	$41.00	73.9%	21.4%	60.4%	7.2%	77.3%	-2.8%	1.3%	50.0M	-2.22B	-15.7M	0.26	6.43	386,759	99,168	1,424,120	946,423
2025-07-14	$49.44	$41.00	74.9%	21.6%	60.4%	7.8%	77.5%	-3.5%	-1.4%	54.3M	-2.21B	-15.7M	0.35	7.21	150,301	52,721	1,325,197	902,676
2025-07-15	$53.32	$42.00	77.9%	22.4%	62.3%	9.8%	79.8%	-4.2%	-1.8%	78.9M	-3.29B	-16.4M	0.28	4.41	512,633	144,205	1,370,772	926,130
2025-07-16	$52.91	$42.00	75.3%	21.6%	60.9%	8.1%	77.4%	-4.4%	-1.1%	81.5M	-2.99B	-16.3M	0.45	5.21	144,726	65,570	1,409,294	960,210
2025-07-17	$52.72	$42.00	73.8%	21.2%	60.7%	7.1%	75.7%	-4.2%	-1.7%	88.4M	-2.88B	-16.1M	0.28	5.42	233,969	64,666	1,422,714	977,658
2025-07-18	$51.59	$42.00	72.5%	21.0%	61.4%	6.3%	75.6%	-4.0%	-2.1%	53.8M	-2.47B	-15.7M	0.28	4.75	322,527	90,497	1,450,740	994,263
2025-07-21	$51.72	$42.00	73.2%	21.8%	61.4%	6.7%	78.1%	-2.1%	-0.2%	41.9M	-2.22B	-15.7M	0.57	5.83	168,556	96,004	1,276,690	915,458
2025-07-22	$49.98	$42.00	74.5%	22.2%	55.1%	7.6%	82.5%	-3.5%	-1.6%	27.6M	-1.78B	-15.8M	0.40	5.42	225,171	90,698	1,329,646	954,349
2025-07-23	$51.62	$43.00	74.1%	22.4%	54.7%	7.3%	81.3%	-3.3%	-1.9%	46.3M	-2.19B	-16.2M	0.40	6.05	189,197	76,212	1,322,562	979,298
2025-07-24	$52.49	$43.00	73.7%	22.4%	47.4%	7.0%	83.0%	-2.6%	-1.6%	66.0M	-2.48B	-16.2M	0.34	6.61	222,706	76,044	1,390,380	1,002,926
2025-07-25	$54.22	$43.00	73.8%	22.6%	44.7%	7.1%	81.4%	-3.2%	-1.5%	85.0M	-3.03B	-16.6M	0.43	8.94	255,756	111,245	1,434,397	1,023,868
2025-07-28	$59.84	$43.00	82.0%	25.6%	53.9%	12.5%	92.6%	-3.8%	-3.7%	61.8M	-4.19B	-17.4M	0.28	8.12	648,750	180,639	1,304,538	972,860
2025-07-29	$58.63	$44.00	81.8%	25.8%	54.6%	12.4%	96.1%	-3.3%	-3.5%	75.3M	-3.76B	-17.6M	0.26	12.11	456,328	118,097	1,407,743	1,024,445
2025-07-30	$60.53	$44.00	82.1%	26.3%	52.7%	12.6%	95.0%	-4.5%	-3.5%	95.0M	-4.36B	-18.2M	0.37	14.45	293,566	107,843	1,476,977	1,046,316
2025-07-31	$58.92	$45.00	82.3%	26.8%	54.3%	12.7%	96.5%	-1.7%	-3.5%	84.6M	-3.75B	-18.1M	0.37	8.68	227,591	84,363	1,504,177	1,070,193